Form No. 1 Basic Or Standard Homeowners Insurance

What Does Form No. 1 Basic Or Standard Homeowners Insurance Mean?

Form No. 1 (HO-1) refers to the most basic homeowners insurance policy. It provides coverage for damage to the house and its contents from 10 specified perils. Due to its limited coverage, this type of insurance is no longer offered in most states.

Insuranceopedia Explains Form No. 1 Basic Or Standard Homeowners Insurance

HO-1 provides coverage against the following 10 perils:

1. Fire and lightning
2. Explosion
3. Smoke
4. Windstorms and hail
5. Volcanic eruptions
6. Riots and civil commotion
7. Vandalism and malicious mischief
8. Vehicles (unless caused by the insured)
9. Aircraft
10. Theft (typically limited to $1,000)

Since HO-1 has been phased out in most states, homeowners shopping for coverage today usually choose between an HO-3 and HO-5 policy, which are the two most widely available forms. For a look at insurers that sell those broader policies, see our list of the best homeowners insurance companies.